Auditing Case Study Example | Topics and Well Written Essays - 3750 words

Auditing - Case Study ExampleThe authorization of gambling is not an issue for a depend of states in the US but the study issue is in the form of developing timberland audit programs to measure and analyze the operations of the casinos in a systematic manner (Arens, 2012).A number of states in the US have stated the fact that gambling and especially casinos promote economic development. Nevadas statute declares that gaming industry is vital for the state development and general welfare of people date New Jerseys statute states that casinos promotes tourism, resort, and recreational activities leading to the creation of economic value in the long run. There is no doubt that several states in the US have promoted casinos in a legal manner but the obvious question surrounding the operations of casinos is in the form of routine of auditing tools in order to assess and analyze the overall success factors associated with it. In order to do so, the major purpose of the discussion is to analyze the usefulness of auditing in the context of analyzing the case study of Sands Hotel and Casino. This get out help in understanding the relevance and importance of auditing in making business operations sightly and transparent.Auditing refers to a systematic review and examination of books, accounts, journals, documents, and vouchers of organizations to analyze and assess the validity and reliability of financial statements in terms of absolute trueness and fairness. Additionally, auditing is considered as an independent examination of data, statements, records, and performance of organizations. Auditing is a complex branch requiring high degree of honesty and understanding of the financial statements. An auditor is required to analyze and assess the evidences along with evaluating the same on the basis of the skilled judgment. Additionally, an auditor needs to offer clear and true verdict of his findings through a systematic report